Jameshed Town is one of Karachi’s largest and oldest residential districts and comprises several residential neighbourhoods. Of these,a triangular enclave, ensconced within Shaheed-e-Millat Expressway, Tipu Sultan Road and Shahrah-e-faisal, has attracted considerable investor interest recently.|
Ab upscale residential neighbourhood…. This triangle-shaped residential area is classified as prime real estate and consists of houses that have stood there for decades along tree-lined roads. Recently, many of them have been demolished to make way for condo-style apartment buildings. This development combined with the fact that quality healthcare and educational institutions are a few minutes’ drive away, has resulted in a significant number of people relocating there.
Parks and recreation…. The nearby Hill Park, perched on a hill and spread over more than 60 acres, is a major crowd puller. Recent additions include a play area for children, jogging tracks as well as small wildlife reserves. Large department stores such as Naheed Supermarket Chase Up are also a short drive away, as are commercial pockets such as Bahadurabad Chowrangi and Tariq Road- havens for shopaholics and foodies alike.
The real estate take… Due to a centralised location, property in this part of Jamshed Town is in high demand. As it is almost completely built-up, only a few vacant plots are available. Residential property options include houses and apartments; commercial property options include standalone shops and retail space in low-and high-rise buildings. Several houses located on main roads have recently been repurposed for commercial use. Property prices have increased by 35-38% and rentals by 15-25% in the last three years.
In a nutshell… With investor interest expected to continue in the coming years, this once quiet and secluded area is well on its way towards becoming one of Karachi’s most sought-after neighbourhoods.
By Sadia Kamran